TechFlow news, July 14, according to The Block, Hyperliquid's HIP-3 framework—a permissionless mechanism that allows developers to freely deploy perpetual contract markets—has seen its trading volume share surge from about 2% at the beginning of the year to nearly 50% currently, with growth primarily driven by demand for on-chain stock trading.
Currently, this sector is dominated by TradeXYZ, whose products include XYZ100, which tracks the Nasdaq 100 Index, as well as perpetual contracts for individual stocks such as Nvidia and Tesla, all settled in stablecoins.
Analysts point out that the core appeal of on-chain stock perpetual contracts lies in two points: first, the no-expiration design avoids time value decay compared to traditional options, making it more intuitive for retail traders accustomed to simple long and short positions; second, 24/7 uninterrupted trading allows users to respond immediately when news breaks, without waiting for traditional markets to open.
